Banro Corp. fka BAA

[N4longterm]

Not to mention *GSVF. There is going to be a lot of dilution on that one before they pull the first ounce from the ground! HAHAHA!!

In September this year, Sabina reported the results from a feasibility study at its lead property – the Back River project. The study suggested that the company can generate NPV $480.3 million on approximately 250,000 oz. annually for eight years, followed by four further years of 200,000 oz. each. The project will require a little over $415 million to hit production, and the company is yet to submit permitting applications (these can often cause long delays in the gold space), but once production starts, Sabina expects the property to produce at an incredibly low AISC of $620 per oz.

This more than accommodates the current weak gold prices, and leaves plenty of room for gold to slide further while still allowing for potential profitability. The initial capital will be the hurdle in this one - Sabina only had $19 million cash and equivalents on its books at the end of September, and expects this to decline to $17 million by year end - so this is something to keep in mind when considering an exposure. If it can raise the funds, however, and get the site permitted, there could be plenty of upside as we head into the latter half of the decade.